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1341 N Mission Cove Lane Gilbert, AZ 85234

5 Beds 4 Baths 3,310 sqft Built 1995

$850,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $256.80
  • 3 Days on Market
  • MLS # : 6155273
  • Updated Date : 11/06/2020 at 20:39
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,310 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

MODEL PERFECT & METICULOUSLY MAINTAINED. This stunning home has been professionally decorated and highly upgraded. From the dramatic entrance with wrought iron & glass entrance doors to the spectacular views from this spacious lot overlooking West Lake, your buyers will be delighted by the details put into this property. Custom Milgard windows, custom marble, travertine & granite throughout . Gorgeous gourmet kitchen with new GE Cafe & Profile stainless steel appliances, custom cherry cabinetry, walk-in pantry and unobstructed backyard and lake views. Open family room with surround sound & gas fireplace that opens onto the covered patio. Delightful main floor owner's suite is a true haven overlooking the lake with a 2nd fireplace, extended custom closet, jacuzzi tub, frameless shower and

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mission Bay Estates at Val Vista Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $122k638k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Mission Bay Estates at Val Vista Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10362980

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Val Vista Lakes Elementary School Primary Regular 544 35 6
Highland Jr High School Middle Regular 1,269 59 8
Highland High School High Regular 3,065 123 8

Val Vista Lakes Elementary School

  • Education Level: Primary
  • # of students: 544
  • # of teachers: 35
6
GreatSchools Rating

Highland Jr High School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 59
8
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating
 

$765,000$935,000$850,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$3,136
Property Tax -$500
Property Insurance -$92
HOA -$92
Property Management Fees -$99
CASH FLOW
-$719

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$850,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$8,348

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,200

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $3,550

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,2003$3,5004$3,8005$3,800
$3,800
RENT COMPS ANALYSIS
  • 1341 N Mission Cove Lane Gilbert, AZ 2
    • 5 beds 4 baths ∙ 3,310 Sqft ∙ Built 1995 5 beds 4 baths ∙ 3,310 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.97
    •  
  • 645 E Desert Lane Gilbert, AZ 1
    • 4 beds 4 baths ∙ 3,170 Sqft ∙ Built 1980 4 beds 4 baths ∙ 3,170 Sqft ∙ Built 1980
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.88
    •  
  • 541 E Leah Lane Gilbert, AZ 3
    • 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 1987 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 1987
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.11
    •  
  • 1518 E Treasure Cove Drive Gilbert, AZ 4
    • 5 beds 4 baths ∙ 3,323 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,323 Sqft ∙ Built 1998
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.14
    •  
  • 2027 E Catamaran Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 3,271 Sqft ∙ Built 1988 4 beds 3 baths ∙ 3,271 Sqft ∙ Built 1988
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.16
    •  
PROPERTY LISTING DETAILS
Barbi King
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155273
Last Updated: 11/06/2020
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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